A transportation company borrowed 6,543,800 yuan from the bank, and the bank asked it to provide mortgage with all the houses owned by the company. In case of emergency, the bank insures the mortgaged

A transportation company borrowed 6,543,800 yuan from the bank, and the bank asked it to provide mortgage with all the houses owned by the company. In case of emergency, the bank insures the mortgaged house. You can refuse to pay compensation, because: in the property insurance contract, when an accident happens, the claimant should have an insurable interest, and in this case, the transportation company will pay off the loan in full after six months, which means that the bank has no insurable interest in this insured object, and the insurance company can refuse to pay compensation. This case involves the transfer of insurable interest. Article 12 of China's Insurance Law stipulates: "The applicant must have an insurable interest in the subject matter insured, and an insurance contract in which the applicant does not have an insurable interest in the subject matter insured is invalid." Insurable interest is the basic element of insurance contract.